SPRINGFIELD - MassMutual Financial Group will review its organization over the next four months with an eye toward cutting more staff from the $500 billion company.

The company doesn't have a number of positions to be eliminated yet, James O. Lacey, vice president for corporate public relations said Wednesday. He said the review would include all levels of the operation both in Springfield and Enfield, Conn. Jobs that are cut would be eliminated by the end of 2009.

This review doesn't include MassMutual subsidiary Babson Capital Managment, which has offices in Tower Square.

MassMutual staff learned of the review Tuesday in a companywide e-mail, said Mark E. Cybulski, director of corporate public relations for MassMutual.

The review follows two recent layoffs. On April 20, it laid off 53 employees from its retirement income business, 14 from the flagship headquarters on State Street and 23 from the offices just over the state line on Route 5 in Enfield. The remaining 16 workers were stationed all over the country.

MassMutual is moving away from selling retirement-income products through third parties like banks and investment firms and toward MassMutal's network of 4,600 sales people.

Earlier in April, MassMutual laid off 65 people from various departments including sales, finance and marketing.

At 157 years old, MassMutual is a major player in the region's economy. Before these cutbacks, it had 4,400 employees in Springfield and another 2,100 in Enfield, according to the company.

MassMutual has said its net gain from operations before taxes and dividends, its measure of profits, was $1.3 billion in 2008, down 40.9 percent from $2.2 billion in 2007.